You can apply for this account if:
- It is being opened as part of the Lend a Hand Mortgage Scheme.
- You agree the balance, excluding interest, can be held as security against the Lend a Hand Mortgage.
- You accept you will not be able to access the savings until the charge is released.
- You’re 18 or over, resident in England or Wales, and you aren’t a named applicant on the mortgage.
- Either you or the mortgage applicant have a Club Lloyds current account.
You should obtain independent legal advice before opening the account.
You can only apply over the phone.
You will need to pay your deposit into either an Easy Saver or Club Lloyds Saver savings account which we will open for you over the phone. The deposit must be 10% of the property purchase price and can't be more than £50,000. We need to receive this at least 7 working days before the property purchase completes. Before the house purchase completes the account will change to a Lend a Hand Fixed Savings Account. The account can be held by up to two people. The term starts on the day the account is changed to a Lend a Hand Fixed Savings Account.
You can manage the account online, in branch and over the phone.